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Technology Stocks : STAR Telecommunications (STRX)

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To: Diamondhead who wrote (657)	8/18/1999 9:51:00 AM
From: ArtAlley	Read Replies (1) of 780

August 17, 1999 09:33 Kaufman Bros Ups Star Telecom Target To $12, Keeps At Accum (STRX) (NewsTraders.com)-- Kaufman Bros. analyst Vik Grover today raised his target on shares of Star Telecommunications (STRX) to $12 from $10, while maintaining an "accumulate" rating. Grover said he has fined his earnings model to reflect Star's disappointing second-quarter financial numbers and now expects the company to report consolidated revenues and per-share losses of $1.08 billion and $1.17 in 1999 and $1.27 billion and $0.54 in 2000, respectively. He says there is "significant risk" to investors if the company isn't able to tap the capital markets to support growth, but its operating agreements in 60 countries and $1 billion-plus annual revenue rate make it an attractive acquisition candidate by a major telecom player such as Qwest (QWST), Global Crossing (GBLX) or Teleglobe (TGO). Shares of the Santa Barbara, Calif., company recently traded at $6.78, down $0.03.

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